XML 28 R17.htm IDEA: XBRL DOCUMENT v3.25.2
Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
8. Goodwill and Other Intangible Assets

The changes in the carrying value of goodwill by reportable segments were as follows:
 Engineered ProductsClean Energy & FuelingImaging & IdentificationPumps & Process SolutionsClimate & Sustainability TechnologiesTotal
Balance at January 1, 2025$415,264 $1,695,397 $1,072,031 $1,212,042 $510,968 $4,905,702 
Acquisitions— — — 322,952 — 322,952 
Measurement period adjustments— 4,677 — (188)— 4,489 
Foreign currency translation14,282 49,688 42,576 28,977 2,019 137,542 
Balance at June 30, 2025$429,546 $1,749,762 $1,114,607 $1,563,783 $512,987 $5,370,685 

During the six months ended June 30, 2025, the Company recognized additions of $322,952 to goodwill as a result of the acquisitions discussed in Note 3 — Acquisitions. Additionally, during the six months ended June 30, 2025, the Company recognized measurement period adjustments of $4,489 primarily related to the Marshall Excelsior Company acquisition in the third quarter of 2024 under the Clean Energy & Fueling segment.
The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:
June 30, 2025December 31, 2024
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying Amount
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying Amount
Amortized intangible assets:
Customer intangibles$2,697,833 $1,286,551 $1,411,282 $2,343,823 $1,174,195 $1,169,628 
Trademarks310,628 170,661 139,967 283,216 156,745 126,471 
Patents196,719 144,061 52,658 201,828 146,271 55,557 
Unpatented technologies363,721 188,217 175,504 277,945 169,310 108,635 
Distributor relationships85,665 73,300 12,365 79,855 66,469 13,386 
Other25,287 13,683 11,604 22,100 11,400 10,700 
Total3,679,853 1,876,473 1,803,380 3,208,767 1,724,390 1,484,377 
Unamortized intangible assets:
Trademarks96,709 — 96,709 96,477 — 96,477 
Total intangible assets, net$3,776,562 $1,876,473 $1,900,089 $3,305,244 $1,724,390 $1,580,854 

For the three months ended June 30, 2025 and 2024, amortization expense was $51,226 and $44,186, respectively. For the six months ended June 30, 2025 and 2024, amortization expense was $99,975 and $88,131, respectively. Amortization expense is primarily comprised of acquisition-related intangible amortization.
During the six months ended June 30, 2025, the Company acquired $378,414 of intangible assets, primarily customer intangibles, through acquisitions within the Pumps & Process Solutions segment. See Note 3 — Acquisitions for further details.